Japan commits $30bn to investments in Nigeria, others

The Japanese government has announced the country’s commitment of $30bn to a number of investment projects in Africa meant for infrastructural and human resources development, technological advancement as well as regional stability.

The Director-General, Japan External Trade Organisation, Mr. Susumu Kataoka, quoted the Prime Minister of Japan, Shinzō Abe, as saying this at the Tokyo International Conference on African Development.

He spoke in Lagos on Thursday during a business seminar organised by the Japan External Trade Organisation.

He said that more Japanese companies were getting more interested in doing new business in Nigeria or expanding their activities in other African countries.

He said, “This is why I am here with the delegation of Japanese companies who are not yet fully based in this country, but are showing interest in investing in this country.

“The Japanese private sector is now motivated in doing business here in Nigeria with a huge potential, especially in terms of your population and the volume of the economy. The purpose of our visit here is to know the business environment and this seminar is a step to further deepen the existing relationship between both countries.”

The Federal Government assured the Japanese investors of a safe and friendly environment for their investments, adding that it was doing all it could to improve the ease of doing business in the country.

The Minister of Industry, Trade and Investment, Dr. OkechukwuEnelamah, said although the country was going through trying times, the present administration was working relentlessly to identify areas where Nigeria could attract the much needed foreign exchange to carry out developmental projects to achieve economic growth and stability.

The minister, who was represented by the Executive Secretary, Nigerian Investment Promotion Commission, Ms. YewandeSadiku, stated that there were more investment opportunities in Nigeria adding that the country was seeking increased trade and investment inflows from Japan.

He said, “There is a lot more that both countries can do together. The Federal Government is doing all it can to improve the ease of doing business in the country; it is as a result of this that the Federal Government inaugurated the Presidential Enabling Business Environment Council chaired by the Vice-President. This council has been focused on making life more convenient for businesses in the country.”

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